Toronto – Lucas Matheson, CEO of Coinbase Canada, made a case for Canada’s new government to create a national crypto strategy during his performance in Consensus 2025 in Toronto.

Speaking on a panel entitled: “What the new Canadian government should do to lead in crypto,” outlined Matheson some central steps he thinks will help placing Canada as a leader in the blockchain room.

Matheson emphasized that Canada has long been a hub for cryptoinnovation, with reference to Ethereum’s origin and the strong presence of web3 developers at Canadian universities.

However, he said the country risks falling behind as other nations actively form cryptopolic policies. “We need leadership. We need masters in the government to embrace this technology and legitimize it in the eyes of the daily Canadian,” Matheson said. He emphasized the importance of having a dedicated federal crypto leader, similar to the American crypto -czar.

One of his primary proposals was that Carney should establish a government-led crypto-task force within the first 100 days of the new administration.

This taskforce would develop a national crypto strategy, including defining digital assets, regulating stablecoins and giving banks the opportunity to keep crypto safe. Matheson also suggested creating a strategic Bitcoin reserve and integrating crypto mining with existing data centers.

Matheson noted that stableecoins could play a key role in making digital assets less speculative, suggesting that Canada needs a stable, Canadian-dollar-denominated coin to increase economic efficiency.

“One in five Canadians transfer money abroad. We pay between 6% and 12% to transfer money anywhere in the world. And today, with crypto, you can click different buttons on your phone and send your friends and family 6% to 12% more money,” he said.

Metheson also noted that 15% of Canadians are considered underburished in Canada, creating “a significant opportunity for us to drive innovation and change” in the country via crypto.

‘Stand with crypto’

To further advocate political change, Matheson pointed to the “Stand with Crypto” initiative.

This aims to educate legislators about Blockchain’s benefits and address misunderstandings. He noted that the initiative is gaining traction among industry leaders and aims to build support among MPs.

As Canada transitions to a new government led by Mark Carney, Matheson expressed optimism about the new administration’s new mandates on innovative technology.

“The [Liberals] is the mandate of building Canada to find economic growth and opportunities for us to embrace technology. And we have a government that is very motivated to think about opportunities to help our country gain more financial advantage. And I think crypto and other technologies need to be embraced, and to do so, we have to educate them, “he said.

However, Matheson warned that Canada risks being left behind in the global race to integrate crypto into the financial system unless it takes quick action.

He compared the current challenges in Canada as “a square stick, round hole, legally definitive problem” due to several different layers of securities regulators.

This means that Canadians are forced to look elsewhere after crypto-related services, potentially resulting in a loss of opportunities for the country and opening users to risks.

“We are in danger of not moving fast enough to embrace types of technology and products and services in Canada, and as a regulated financial institution, it is a priority for us to make sure we can introduce these products and services in a compatible way so that Canadians do not just use a VPN and jump out and use -compatible platforms around the world.”

Read more: Coinbase’s Lucas Matheson about why Canada needs a blockchain strategy